OVERVIEW PAPER ON MICROFINANCE THROUGH SELF-HELP GROUP-BANK LINKAGE PROGRAM FOR POVERTY ALLEVIATION IN RURAL INDIA

Abstract

Poverty is extensive in India even though it has enhanced any of the worldwide frugality in 1990s through the Structural Adjustment Program. The purpose of the article is to review documents on microfinance through self-help group and banks linkage program in poverty elevation in rural India. The main methods used in the research were methods of comparative analysis and generalization. The information base of the research was financial and statistical reports, as well as the results of conducted surveys. India’s saving is flourishing at a faster rate but the benefits of it are not evenly delivered in the country. The ending from 1999-2000 to 2004-2005 proverb rapid tumor in the country frugality but it has not profitable to destroy the question of inaction. However, a excellent step towards the want relief was naive 1992 accompanying the establishment of the organization of Microfinance through the Self-Help Groups-Bank relation program popularized by National Bank for Agriculture and Rural Development (NABARD). The microfinance program by NABARD has originally begun in 13 recognized arrangement states that reports 70% of country weak community. The popular model in Indian data processing machine finance circumstances is the SHG-Bank relation model. The study erect that the microfinance program not only assisted in extermination of want but too in financial authorization of country mothers. It has happened in harvests, invention of more creative property and raised enrollment. But it has several questions in the way that extreme interest rate, undertaking costs, lack of skill, alternative in exercise etc.